Definition: Kentucky Farmers Bureau (KFB) is a non-profit organization that offers a wide range of policies to its member firms, including insurance for businesses, personal property, liability, workers' compensation, casualty, general liability, and commercial auto insurance. This policy also includes health and life insurance coverage. The KFB's Kentucky Farmers Bureau Insurance Policy covers all types of business risks such as fire and other catastrophic losses, theft, machinery damage, natural disasters like floods, hurricanes or earthquakes. It does not cover personal property, personal injury, workers compensation, or liability for the company itself. In addition to the general coverage outlined above, it also includes specific insurance policies designed specifically for Kentucky Farmers Bureau members: - General Liability Coverage: This type of policy provides protection against legal claims involving employees, agents, or business premises. - Workers' Compensation Insurance: For businesses that employ workers and are covered by workers compensation laws in Kentucky (which cover all types of injuries and illnesses). - Life Insurance: It covers the cost of lost income for a person who is disabled due to injury or illness due to unforeseen events such as death, disability, or accident. - Commercial Auto Insurance: For businesses that offer commercial use of vehicles like trucks, trailers, or utility vehicles. - Health and Life Insurance Coverage: This coverage protects employees and their dependents against health care costs due to pre-existing conditions and accidents, as well as the loss of life due to employment-related injuries. Each member firm is assigned a representative who acts as an agent for all aspects of the insurance policies. They are responsible for underwriting, pricing, and negotiating with insurers and managing claims. The Kentucky Farmers Bureau Insurance policy is designed to provide peace of mind to its members by insuring their property against loss or damage resulting from natural disasters like floods, hurricanes, earthquakes, fires, or other catastrophic events. It also offers a range of other benefits such as health care coverage for employees and families, liability protection, and financial assistance through the Kentucky Farmers Bureau Foundation.
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